MUMBAI -- Taiwanese auxiliary equipment maker Shini Group is relocating to a bigger location in early 2014, moving out of rented space into a new site it says will be eight times larger.
The move for the Taipei-based company will take place by the end of January or early February.
"Currently, we have a production facility in Vasai in the Thane district. The new plant is coming up at Chaken in Pune," said J.N. Bhat, managing director of Shini Plastics Technologies India Pvt. Ltd., at the Plastivision 2013 at Mumbai.
Shini was facing space constraints at the current location. Vasai was a pilot site, which opened in 2009. A new, company-owned facility will extend its product portfolio in the Indian market, he said.
"We will start manufacturing heating systems, robots and automation equipment at the Chaken plant," Bhat said. Shini has invested around 40 crore rupees (about $7 million) in the new plant to tap the growing potential of the Indian market.
"India is a big market and we foresee huge demand emanating out of the plastic industry in the few years. The plant has been built to tap this demand," Bhat said.
The Indian plastic auxiliary industry has an estimated value of 300 crore rupees (about $50 million) annually, growing at the rate of 15-20 percent per year. Local players alone cannot meet the demand, so the market is opening up for foreign players with new technology and improved standards. Shini has ambitious plans in store for India, including multinational production facilities.
The Chaken plant should meet the company's needs for the next five years, but after that Shini will consider expansions into the western or southern parts of the country, Bhat said. Currently, it makes driers, loaders, mold temperature controllers, chillers and other auxiliary equipment.